Chidambaram backs Maran on scrapping of FIPB
Union finance minister P Chidambaram has backed industry minister Murasoli Maran's proposal to scrap the Foreign Investment Promotion Board (FIPB). He informed the World Economic Forum meet on Tuesday that FIPB could be done away with if it was found to delay investment proposals.
| Huge turnout at OIC summit stuns US
The eighth summit of the Organisation of Islamic Conference (OIC) which opened in Tehran on Tuesday with participation by the 55-member countries is seen as a big blow to the US which was trying to isolate Iran internationally. Reports in the Egyptian press stated that Washington tried pressurise one of its Gulf allies not to attend the three-day summit.
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